Retail in Asia


Australians to spend US$293 million on Valentine’s Day gifts in 2022


Australians are set to spend AU$415 million (US$293 million) on Valentine’s Day gifts in 2022, with flowers, chocolates and jewellery being the most popular items people will be getting their significant others. Research from the Australian Retailers Association (ARA), in conjunction with Roy Morgan, shows Australians will be spending an average amount of AU$111 (US$ 78) on their gifts.

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Flowers will be in hot demand, mentioned by 39 percent of people who plan on buying a gift followed by chocolates/food and alcohol (28 percent) and jewellery (9 percent). Consumers in NSW are set to spend AU$126 million (US$ 89 million) on their Valentine’s Day gifts, with Victorians to spend AU$107 million (US$75 million) and Queenslanders AU$77 million (US$54 million).

Around a third of those surveyed said they plan to splurge more on gifts this year than they did 12 months ago with the majority (65 percent) saying they will be spending about the same amount.

The bulk of the spending is set to be done by 25 to 34 year old’s, who will spend AU$135 million (US$95 million) and 35 to 49 year old’s who will spend AU$129 million (US$91 million).

ARA CEO Paul Zahra said only 8 percent of those surveyed would be spending their Valentine’s Day dining out, which may reflect the ongoing Covid concerns of consumers.

“There’s no doubt consumer confidence has been severely impacted by Omicron, but our research shows Australians will still be spoiling their loved ones this Valentine’s Day, with flowers and chocolates in high demand. For florists, this is their busiest day of the year, and it would normally be for restaurants as well, however the sector has been severely impacted by staff shortages, Covid isolations, and people generally being a bit more cautious with their social interactions,” said Zahra.

“Valentine’s Day is a much bigger deal for younger Australians with 38 percent of 18 to 24 year old’s planning on buying a gift. However, that number tapers off in the older age cohorts. Just 7 percent of people over the age of 65 plan on celebrating the day, so perhaps the significance of Valentine’s Day wares off the older you get and when you’re in a long, comfortable relationship!” added Zahra.

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The ARA-Roy Morgan Snap SMS survey was conducted on 19th January to 20th January 2022 with an Australian-wide cross-section of 2,717 Australians aged 18 or above.